First Solar: No Need To Provide Subsidy For Renewable Energy

KUALA LUMPUR, Nov 19 (Bernama) – There is no need to provide subsidy for renewable energy (RE) as the source could be considered cheap and readily available, said Executive Vice President, Global Public Affairs First Solar Inc, Maja Wessels. She said instead of providing subsidy, the allocation should be used to develop RE more efficiently in order to fully utilise it as it is now a necessity across the globe. "Don't waste (money) to provide subsidy for RE but you should put the money for modernisation because this is a global issue, not only for one or two countries," she said at the Energy for Tomorrow Conference by International New York Times here, Wednesday. The two-day conference themed 'Powering Sustainable Development' is a critical international meeting point for some of the most influential figures from the global energy community including government policymakers, senior business figures and thought leaders. Executive Board Chairman, Japan Renewable Energy Foundation Prof Tomas Kabaerger concurred with Wessels, saying that the utmost thing to do and to focus on now is to fully develop the RE and not the subsidy. "You (country) could introduce subsidy for renewable energy, but I think we are now at the stage of development where subsidy for renewable energy is not an important thing. "We must avoid the unnecessary costs in renewable energy," he said. -- BERNAMA